{"id":64155,"date":"2023-09-22T10:26:44","date_gmt":"2023-09-22T14:26:44","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/homebuilder-stocks-take-a-broad-beating-as-rising-long-term-interest-rates-raises-affordability-concerns\/"},"modified":"2023-09-22T10:26:47","modified_gmt":"2023-09-22T14:26:47","slug":"homebuilder-stocks-take-a-broad-beating-as-rising-long-term-interest-rates-raises-affordability-concerns","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=64155","title":{"rendered":"Homebuilder stocks take a broad beating as rising long-term interest rates raises affordability concerns"},"content":{"rendered":"
\n

Shares of home builders took a broad beating Thursday, amid growing concerns over housing affordability as interest rates have been surging. The iShares U.S. Home Construction ETF
\n ITB,
\n +0.01%<\/bg-quote>
\n dropped 2.6% in morning toward the lowest close since June 5, with 44 of 46 of its equity components losing ground. Shares of KB Home
\n KBH,
\n -0.26%<\/bg-quote>
\n sank 3.3%, also toward a 3 1\/2-month low, even after the homebuilder reported fiscal third-quarter earnings that beat expectations and raised its full-year outlook. Among KB Home\u2019s more active peers, shares of D.R. Horton Inc.
\n DHI,
\n -0.25%<\/bg-quote>
\n shed 3.6%, of Builders FirstSource Inc.
\n BLDR,
\n +0.83%<\/bg-quote>
\n slid 4.6%, of PulteGroup Inc.
\n PHM,
\n -0.42%<\/bg-quote>
\n declined 3.9%, of Toll Brothers Inc.
\n TOL,
\n +0.20%<\/bg-quote>
\n tanked 3.2% and of Lennar Corp.
\n LEN,
\n -0.11%<\/bg-quote>
\n lost 3.2%. The sector\u2019s selloff comes amid disappointing home sales data as the yield on the 10-year Treasury note
\n TMUBMUSD10Y,
\n 4.443%<\/bg-quote>,<\/span>
\n which influences mortgage rates, jumped 0.133 percentage points to 4.482%, the highest rate seen in 16 years, after the Federal Reserve indicated it was not necessarily done raising interest rates.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of home builders took a broad beating Thursday, amid growing concerns over housing affordability as interest rates have been surging. The iShares U.S. Home Construction ETF ITB, +0.01% dropped 2.6% in morning toward the lowest close since June 5, with 44 of 46 of its equity components losing ground. Shares of KB Home KBH, […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-64155","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nHomebuilder stocks take a broad beating as rising long-term interest rates raises affordability concerns | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of home builders took a broad beating Thursday, amid growing concerns over housing affordability as interest rates have been surging. 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